Explain the various general reforms which were initiated by the government to solve the problems of agriculture sector.
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General reforms comprise of the following steps:
- Expansion of irrigation facilities: To fight the problem of uncertain monsoons, several major and minor irrigation projects have been launched across different parts of the country.
- Provision of credit: Today, commercial banks provide 78% of the total institutional credit. In 1982, National Bank for Agriculture and Rural Development (NABARD) was established to further meet the credit requirements of the farmers.
- Regulated markets and cooperative marketing societies: Regulated markets have been established all over India. This is with a view to offer minimum support price to the farmers and protect them from the exploitative practices of middlemen. Cooperative marketing societies have also been established to increase the bargaining power of the farmers.
- Price support policy: Through this system, the government endeavours to protect the farmers from the uncertainties prevailing in the market. Under this policy, government assures a minimum price to the farmer for his produce and also buys his surplus produce at the price, known as Minimum Support Price (MSP).
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